Block CEO: Bitcoin chips will be produced in the United States to cope with trade shocks

Odaily Planet Daily News: Jack Dorsey, CEO of Block, stated that the company's Bitcoin mining chip Proto will be launched in 2025 and will be produced in the United States to cope with tariffs and overseas manufacturing risks. Dorsey emphasized that cooperation with domestic suppliers and manufacturers will ensure that chips are released as planned. The gross profit of Block in the first quarter reached 2.29 billion US dollars, a year-on-year increase of 9%. Among them, the gross profit of Cash App increased by 10% to 1.38 billion US dollars, and Square increased by 9% to 898 million US dollars. However, due to the macro environment and weak consumption, the company has lowered its full year gross profit forecast for 2025 to 9.96 billion US dollars, a year-on-year increase of 12%.